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December 02, 1977 - Image 5

Resource type:
Text
Publication:
Michigan Daily, 1977-12-02

Disclaimer: Computer generated plain text may have errors. Read more about this.

Protesters hit S.

(Continued from Page 1)
er demand.
A handbill was given to each of the
few customers who were in the bank
at the time. But most seemed uncon-
cerned with the issue. Tom- Bloom,
who has an account with the bank,
said that he would not withdraw his
money. merely because the bank sold
the Krugerrand.
"I'm not going to stop banking

here," he said.
After half an hour, the group of
protesters moved to the local office of
Merrill Lynch, Pierce, Fenner and
Smith, one of the largest brokerage
firms in the country, and the largest
seller of the krugerrand.
AGAIN THE GROUP paraded into

Daily printer dies,
A very dear friend of the Daily staff, Myron Crosswait, died yesterday
morning at St. Joseph's Mercy Hospital four days before his 51st birthday.
Myron, a printer in the Daily shop, was a friend to many students who have
worked for the student publications. We extend our deepest sympathy to his
wife Gloria and his children: Steven, Earle Myron Jr., and Sherrie. Myron
had been active in our business for many years. He owned and published
the Ringsted Dispatch in Ringstead, Iowa. He helped found Demco, Inc., a'
publishing firm in Ann Arbor, Myron lived in Ann Arbor for the past 16
years, was a member of the Westside United Methodist Church, and was
past commander of the Erwin Prieskorn Post 46 of the American Legion.
Funeral services will be held Saturday at 2:30 p.m. at the Muehlig Chapel.
Burial will follow in B thlehem Cemetery. The family has asked that instead
of flowers, memorials be made to St. Joseph's Mercy Hospital Cancer
Research or the American Cancer Society.

10
4frica c'
the office chanting slogans, and
reread its prepared statement, this
time to office manager Ed Heekin.
After listening to the statement,
Heekin said, "I respect your point of
view. Now I hope you respect mine.'
He added that he would be glad to
listen to a couple of representatives
but would not entertain the entire
group. But the group was unwilling to
split up, so communications broke
down. Heekin refused further com-
ment, and the group moved outside
and picketed for about half an hour.
In a later interview, ieekin pre-
sented a written statement which
said, "Merrill Lynch is not trying to
promote or support the South African
government through the sale of the
krugerrand." He said his company
was only filling a public demand for
gold coins.
DESPITE THE suggestion from
the U.N. that all financial institutions
stop collaborating with South Africa,
Bank President John Paul said he
has no intention of discontinuing his
bank's sale of the coin.

oin sales
"We have received nothing from
regulatory or supervisory bodies
indicating that we should stop (sell-
ing the coin)," Paul said.
Like his counterpart at Merrill
Lynch, Paul insisted that his bank
was only providing a customer
service. He explained they are just
selling something that people have a
right to buy. If a bank stopped selling
the coin it would be depriving its
customers of their rights, he
claimed, and added, "That's just not
the American way."
Nonetheless, RCYB member Ran-
dy Schwartz said he thought the
protest was effective.
"The intention was to keep up
pressure on those institutions who
sell the Krugerrand," he said. "I
think it was successful."
Schwartz went on to explain that
yesterday's demonstration was part
of a national movement against the
Krugerrand. "We're hoping to build
toward a national protest on Satur-
day occurring in Chicago, New York,
Philadelphia, and San Francisco,"
he said.

The Michigan Daily-Friday, December 2, 1977-Page 5
"" FRIENDS OFTHE ANN ARBOR PUBLIC LIBRARY
" "t
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S A
.December 2, 3,,6 1977
S DE C. Z: FRIDAY MEMBERS ONLY .
5:3 t:0yumyji at the door)
" Hardbacks 1.00 Paperbacks .50 o
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DEC. : ATUESDAY Hardbacks .00
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# 5th & William
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Phantom
NEW YORK (AP)-A $125-million
generating plant may never be built
because customers, of General Public
Utilities Corp. in New Jersey and Pen-
nsylvania have changed their schedules
for using electricity.
The company's 1.5 million cutomers
have shifted 300,000 kilowatt-hours of
electricity away from the peak daytime
hours of use, says company chairman
William B. Kuhns. This amount is the
capacity of a medium-sized, coal-fired
generating station, Kuhns notes. While
some of this reduction is the result of
conservation, energy management by
its customers is the major factor, he
explains.
"Moving the use of electricity to off-
peak night hours," says Kuhns,

generator
"reduces the need to build new
generating plants to meet growing
demand for energy during the day.
This, coupled with the fact that elec-
tricity is less costly to generate in the
large 'base load' plants operating at
night, will lessen the need for future
rate increase."

11 "t

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